The Pensions Authority in Ireland has successfully prosecuted a company that failed to pass on employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS).
Rice Insulations Ltd, and its directors, were convicted in Cork City District Court on Wednesday 16 September 2020 by Judge O’Leary. They were found to be in breach of section 58A(1) of the Pensions Act 1990, as amended, for failing to remit employee pension contributions within the statutory timeframe.
The company with a registered address of 10 Nicholas Street, Off Douglas Street, Cork, was fined €300. The directors of the company, Liam Rice and Edward Rice were also convicted and both were fined €300. Costs of €340 were also awarded to the authority.
Rice Insulations Limited had deducted pension contributions from the wages and salaries of its employees in September 2018 and November 2018 for remittance to the trustee of CWPS, but had failed to pass on the contributions within the statutory timeframe. However, all outstanding employee contributions due to the scheme were repaid prior to sentencing.
Commenting on the conviction in this case, the Pensions Regulator, Brendan Kennedy, said,: “This conviction should act as a warning to all employers that the Pensions Authority treats the failure of the employer to remit pension contributions as a very serious offence. We advise any employer with outstanding pension contributions to immediately regularise their position.”
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